Merit-based financial aid can reduce the cost of college significantly. However, colleges are selective about how they award merit aid. And some are more selective than others.
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Good students whose families possess modest financial means may receive surprisingly good scholarship awards at top-flight colleges. And the better the student, the better the awards.
Need-based financial aid is an important tool for colleges to attract excellent students of diverse backgrounds to their campuses. This video explains how need-based aid works.
